Westwater Resources Sees Unusually Large Options Volume (NASDAQ:WWR)

Westwater Resources, Inc. (NASDAQ:WWR) saw some unusual options trading on Monday. Investors acquired 3,768 call options on the company. This represents an increase of 585% compared to the typical volume of 550 call options.

Hedge Funds Weigh In On Westwater Resources

Several hedge funds have recently added to or reduced their stakes in the company. Pilgrim Partners Asia Pte Ltd acquired a new stake in Westwater Resources in the fourth quarter worth about $50,000. Centiva Capital LP acquired a new position in Westwater Resources during the 3rd quarter valued at about $64,000. Alps Advisors Inc. acquired a new position in Westwater Resources during the 4th quarter valued at about $89,000. Evernest Financial Advisors LLC boosted its stake in shares of Westwater Resources by 200.0% in the 1st quarter. Evernest Financial Advisors LLC now owns 120,000 shares of the basic materials company’s stock valued at $79,000 after purchasing an additional 80,000 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new position in shares of Westwater Resources in the 1st quarter valued at about $87,000. Institutional investors own 7.72% of the company’s stock.

Westwater Resources Stock Performance

WWR traded down $0.13 during mid-day trading on Monday, reaching $0.64. The stock had a trading volume of 10,900,484 shares, compared to its average volume of 2,224,131. The stock has a market capitalization of $81.24 million, a P/E ratio of -4.87 and a beta of 1.62. The firm’s fifty day simple moving average is $0.48 and its two-hundred day simple moving average is $0.66. Westwater Resources has a 52 week low of $0.38 and a 52 week high of $3.75.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on WWR. Maxim Group assumed coverage on shares of Westwater Resources in a research report on Wednesday, April 15th. They set a “buy” rating and a $2.00 price target on the stock. HC Wainwright lowered their price objective on shares of Westwater Resources from $1.75 to $1.50 and set a “buy” rating for the company in a research report on Monday, August 3rd. Finally, D. Boral Capital began coverage on shares of Westwater Resources in a research note on Thursday, June 11th. They issued a “buy” rating and a $3.00 target price for the company. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Westwater Resources currently has a consensus rating of “Buy” and a consensus price target of $2.17.

Westwater Resources Company Profile

Westwater Resources, Inc (NASDAQ: WWR) is a Houston‐based mineral development company focused on advancing sustainable sources of battery‐grade graphite for the lithium‐ion battery market. The company’s primary asset is the Coosa Graphite Project in east‐central Alabama, where Westwater is working to establish a fully integrated, U.S.‐based supply chain for natural spherical graphite. By leveraging in‐house purification and spheronization technology, Westwater aims to produce high‐purity graphite suitable for electric vehicle and stationary energy storage applications.

Originally founded as a diversified natural resources company, Westwater Resources has realigned its strategy toward critical battery minerals.